Alpha, Inc., owns Beta Corp. Te two companies individual balance sheets follow: Requirements 1. Prepare a consolidated
Question:
Alpha, Inc., owns Beta Corp. Te two companies’ individual balance sheets follow:
Requirements
1. Prepare a consolidated balance sheet of Alpha, Inc. It is sufficient to complete the consolidation work sheet. Use Exhibit 8-7 as a model.
2. What is the amount of stockholders’ equity for the consolidatedentity?
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
A1 Alpha, Inc. Consolidation Work Sheet Beta Alpha, inc. Corp Ellminatlon Debit Credit 46,000 20,000 Cash Accounts receivable, net 75,000 52000 29,000 5 Note receivable from Alpha Inventory 56,000 113,000 283,000 29,000 80,000 71 Investment in Beta 8 Plant assets, net 97,000 Other assets 13,000 1 Total 13 Accounts payable $ 49,000-$22,000 148,00033,000 78,000123,000 11200080,000 33,000 602,000 S 291,000 Notes payable Other llabilities Common stock 1Retained earnings 215,000 8 Total
Step by Step Answer:
Req 1 consolidation work sheet and balance sheet Req 2 The stockholders equ...View the full answer
Financial Accounting
ISBN: 978-0133427530
10th edition
Authors: Walter Harrison, Charles Horngren, William Thomas
Related Video
This video is about ways to attempt consolidated balance sheet questions. since the unconsolidated financial statements of parent and subsidiary companies are prepared separately, consolidating the balance sheets of both companies is critical and sometimes becomes complex. the tutorial will guide students on to how questions on attempting questions on consolidated financial statements in an easier yet more effective way.
Students also viewed these Accounting questions
-
1. Given the Figure 2 below, find the net electric field E vector at point A due to a positive charge Q 30 C and negative charge Q2-20 uC. Write down all the necessary equations and I drawings....
-
Zeta, Inc., owns Theta Corp. These two companies individual balance sheets follow: Requirements 1. Prepare a consolidated balance sheet of Zeta, Inc. It is sufficient to complete the consolidation...
-
From the following data, prepare a consolidated balance sheet and a multiple-step income statement for Amundsen Data Corporation. All data are in millions and pertain to operations for 20X2 or to...
-
Suppose that you are holding your toy submarine under the water. You release it and it begins to ascend. The graph models the depth of the submarine as a function of time. What is the domain and...
-
The number of arrivals per minute at a bank located in the central business district of a large city was recorded over a period of 200 minutes, with the following results: a. Compute the expected...
-
Use Eq. (5.219) to obtain a large set of random numbers with very large period of repeatability. = Rk (aRk-1+b) mod M,k=1,2,3,... (5.219)
-
Graph the expectation function for the logistic growth model (12.34) for \(\theta_{1}=10, \theta_{2}=2\), and values of \(\theta_{3}=0.25,1,2,3\), respectively. Overlay these plots on the same set of...
-
Presented below are the purchases and cash payments journals for Rosalez Co. for its first month of operations. In addition, the following transactions have not been journalized for July. The cost of...
-
find lim x-2x =-2-x-4x+4
-
Copper Explorations recently acquired the rights to mine a new site. Equipment and a truck were purchased to begin mining operations at the site. Details of the mining assets follow: Copper?s...
-
Russell Financial paid $480,000 for a 35% investment in the common stock of Timberwood, Inc. For the first year, Timberwood reported net income of $185,000 and at year-end declared and paid cash...
-
Assume that on September 30, 2014, Protex, Inc., paid 98 for 5.5% bonds of Booker Corporation as a long-term, held-to-maturity investment. Te maturity value of the bonds will be $75,000 on September...
-
Load PowerWorld Simulator case Problem 6_46. Using a 100 MVA base, each of the three transmission lines have an impedance of \(0.05+j 0.1 \) p.u. There is a single \(180 \mathrm{MW}\) load at bus 3,...
-
When should you not use generalization in a model?
-
Common English has many ways to describe logical connectives. Write a wff for each of the following expressions. a. \(B\) whenever \(A\) b. \(A\) is derived from \(B\) c. \(A\) indicates \(B\) d....
-
Prove the following generalization of Eq. (1). Let \(C\) be a simple closed curve in the plane \(\mathcal{S}\) with equation \(a x+b y+c z+d=0\) (Figure 8). Then the area of the region \(R\) enclosed...
-
Generalize the argument of Exercise 39 to prove that \(\sqrt{A}\) is irrational if \(A\) is a whole number but not a perfect square. Choose \(n\) as before and let \(m=n...
-
On 1 July 2009, Haines Ltd leased a processing plant to Kitmat Ltd. The plant was purchased by Haines Ltd on 1 July 2009 at fair value of EUR 934,224. The lease agreement contained the clauses shown...
-
What would be the maximum cost of a CFL such that the total cost (investment plus operating) would be the same for both CFL and incandescent 60-W bulbs? Assume the cost of the incandescent bulb is 25...
-
H Corporation has a bond outstanding. It has a coupon rate of 8 percent and a $1000 par value. The bond has 6 years left to maturity but could be called after three years for $1000 plus a call...
-
Employees can be sure their behavior out of the office a. has no impact on stockholders. b. cannot impact their career if they blog under a fake name. c. matters to employers only during the hours...
-
Colossal Marine. Inc.. had income before income tax of $171,000 and taxable income of $148,000 for 2016, the company's first year of operations. The income tax rate is 40%. 1. Make the entry to...
-
Weather Seal Windows Company has preferred stock outstanding and issued additional common stock during the year. 1. Give the basic equation to compute earnings per share of common stock for net...
-
Prudhoe Bay Oil Co. is having its initial public offering (IPO) of company stock. To create public interest in its stock, Prudhoe Bay's chief financial officer has blitzed the media with press...
-
Discuss the key features of the following associated with the financial service industry: Financial products and services of the organisation Financial agency agreements Financial industry codes of...
-
You are building an apartment complex with 80 three-bedroom units near the downtown office district. The designers estimate that there will be on average 3.5 occupants in each apartment. A. Calculate...
-
The field team sends an update to the project manager letting him know that there were 12 employees at the project site, there were no accidents this week and no issues to report, and that the team...
Study smarter with the SolutionInn App